Emmanuel Macron has misdiagnosed France's ailing economy

No doubt, French labor laws are remarkably rigid and demanding. But fixing them won't actually fix the labor market. Here's why.

French President Emmanuel Macron.
(Image credit: AP Photo/Francois Mori)

A few weeks ago, Emmanuel Macron won France's presidential election. Then a few days ago, his party won crushing victories in France's legislature. If he wants to fulfill his promise to bring "hope and renewed confidence" to France, Macron has his chance.

The country's economy is in the doldrums: GDP per person hasn't budged in years, nor has its unemployment rate of roughly 10 percent. Macron's solution is to cut back on France's rigid labor market laws, making it easier to hire and fire people. He's not the first French leader to attempt this, but previous efforts hit ferocious opposition from unions and labor groups.

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Jeff Spross

Jeff Spross was the economics and business correspondent at TheWeek.com. He was previously a reporter at ThinkProgress.